Let me be the first to say we are seeing the end of Keynesianism as a serious economic policy for recessions and stagflation. Obama and crew continue to make the same mistakes FDR did policywise (which Hoover also initiated).
If anyone has not read The Forgotten Man by Amity Shlaes do so now if you want to truly understand why we are not coming out of this slump yet.
The dollar is now trading below 80 yen. And for all of you gold and silver bugs, you should look out too.
The only ones who seem to understand economics properly are the Austrian economists.
Keynesians are only interested in telling politicians what they want to hear to get cushy government jobs.
“The forgotten Man” should be required reading.
It is maddening to see the same absolete policies being used again. It so
obvious that even a caveman could understand... but we’re talking
marxists here.